狠狠撸

Mark S. Long
Long Performance Advisors

? U.S. Pat. No. 5,713,081: Pantyhose garment
with spare leg portion.

? Inflatable rug...convertible to a mattress, in
order to obviate the prior art problem of
storing or housing large convertible beds.

? ―Everyone acquainted with the subject will
recognize it as a conspicuous failure‖ – Henry
Morton, President of the Stevens Institute of
Technology, on Edison’s Light Bulb, 1880
? ―Television won’t last because people will
soon get tired of staring at a plywood box
every night.‖ Darryl Zanuck, Movie
Producer, 20th Century Fox, 1946
? ―The world’s potential market for copying
machines is 5,000 at most.‖ The President of
IBM, to the Xerox Corporation, in 1959

? ―The Phonograph has no commercial value at
all.‖ Thomas Edison, Inventor, 1880’s
? There is not the slightest indication that
nuclear energy will ever be obtainable. It
would mean that the atom would have to be
shattered at will, and that is impossible.‖
Albert Einstein, 1936
? And, the ever-popular:
? ―This anti-trust thing will just blow over.‖ Bill
Gates, 1990’s.

? Product
? Protection
? Proposal
? Penetration
? People
? Public Exposure

? 1. Uniqueness – a key factor in product
success
? 2. Simplicity – design – 2007 survey by Kelton
Research for Autodesk – 7/10 Americans ―just
had to have‖ a product – was because of
design – among 18-29 year olds, even higher
? 3. Function –five characteristics of usability –
effective, efficient, engaging, error tolerant,
easy to learn
? 4. Value Proposition – customer perception

? Product Features – The product itself – what
does it do? How is it different? How is it
―new, groundbreaking, innovative‖?
? Innovation versus Duplication versus
Synthesis versus Extension
? The ―counter-intuitive‖ experience – annoying
experiences or hazards encountered
? Piggybacking – how unique is unique?

? Patenting – USPTO; PCT; Other patent offices
– Provisional and ―Regular‖ patents
? You can’t patent an idea – reduce to practice
? A ―right to exclude‖
? No guarantee to commercial success
? Copyrights – ―original works of authorship fixed
in any tangible medium of expression‖ – Library of
Congress - ?
? Trademark – USPTO; $325 filing fee per item;
?,?, or ?; good for 10 years, with renewals

? Patents – public disclosure – have NDA/CDA
in place! Remember – patents are published
and expire in 20 years!
? Copyrights – while they do offer some
protection, limited enforcement and limited
international assistance
? Trademarks – monitor and renew;
abandonment is easy to do!
? Trade secrets – also a possibility

? The Business Plan – BREAKING WITH
TRADITION!
? Babson College Study – ―Just Do It‖ – examined 116
businesses started by alumni – no statistical
difference between those that started with a formal
plan, and those that did not!
? Concluded that the only reason to write a ―formal‖
plan is to raise outside capital
? Case Western Study – Same conclusion – still need a
shorter plan, with emphasis on marketing and
financials (no matter what), unless you are going for
outside financing!

? Market Identification and Characterization
? Financials – Sales Forecasts and Budget
? Participation – Everyone in the Company
―chips in‖ their $0.02 worth AND buys in
? Competitor Analysis – knowing who’s out
there will help you sell
? Critical Risks – knowing your ―tipping points‖
and what to ―watch out for‖
? Executive Summary – a good ―marketing
piece‖

? Pricing strategies – Skimming? Penetration
pricing? Parity pricing? Price bundling?
? Positioning – Attacking the market; getting in
the right place at the right time; innovative
distribution tactics
? Advertising – Budget; ―Free exposure‖
advantages; cost-effective methods;
managing expectations
? Example: Direct mail – expect a 2-4% response
? Tradeshows: Expect 6-10% of leads to be valid

? For the Entrepreneur – INEXPENSIVE!
? But effective! - use the power of NETWORKING;
don’t underestimate your BUSINESS CARD; give
TALKS everywhere you can; use the PHONE to your
advantage; issue PRESS RELEASES when appropriate
? Use the web to your advantage
? Give a clear message about your company and your
product and your mission
? Don’t be text-intensive
? Make sure your site is all about your customers, not
about you
? Use a content management system you can update
OFTEN

? http://www.teacherxpress.com/

? The ―hit by the bus‖ theory – back-ups!
? Affability is sometimes more important than
ability in a small business
? Do you really ―need‖ to hire someone F/T?
? A lot of work may include
accounting, manufacturing, Web-site
design, marketing and public relations — even
administrative assistants can be hired on a ―virtual‖
basis now online.
? Vendors often have more knowledge and
experience than someone you can afford to hire

? Referrals from your friends, industry
colleagues and advisers, such as your
accountant, attorney, board members and
organization members
? ―Niche‖ online job boards
? Membership organizations
? Popular blogs and Web sites in your industry
? Local newspapers and trade publications
? Employment agencies and head hunters

? Showing the Product in its environment
? Making people understand the Product
? Constant and consistent exposure
? Don’t worry, be selling
? Selling the PERCEPTION – Selling the dog!
? Always use open-ended questions in your
conversations
? Would next Tuesday at 3pm or 4pm be best?
? Would you prefer the 10% discount on the quantity
of 100 or the 20% discount on the quantity of 250?

? Product +
? Protection +
? Proposal +
? Penetration +
? People +
? Public Exposure +
? Persistence +
=
? PROFIT

Thank you, Thank you very much!

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Idea2 market

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